CID busts phantom money creation syndicate
STAFF WRITER
Zimbabwe Republic Police (ZRP)’s Criminal Investigation Department (CID) has captured some members of phantom money creation that have an ill intent of breaking mobile money and banking systems in Zimbabwe.
The manipulation was done to create phantom money between ZIPIT which is owned by ZimSwitch.
Mobile money transaction processing institutions are ZimSwitch, OneMoney, EcoCash, and EFT.
The manipulated transactions were declined on OneMoney but successfully credited through on EcoCash platform.
Another thing that boggles the mind is how transactions that were above mandatory transactional limits were processed at the ZimSwitch level and also no report of suspicious transactions were reported.
The Zimbabwe Republic Police (ZRP) national spokesperson, Commissioner Paul Nyathi confirmed that so far police have arrested the following suspects: Tomran investment directors namely Tawanda Zimvu and Kumbirai Mhishi.
Other arrested suspects were Learnmore Gina, Uwen Gonyora, Prisca Tsvakai, Takunda Gwaranda .
More arrests are expected as the net closes on phantom money creators.
In a case that was reported in the media, NetOne Cellular allegedly lost ZiG285 817 to a suspected hacker who took advantage of the RTGS to ZiG currency conversion that occurred in April this year.
According to News Report Zim, Takunda Gwaranda (21) appeared before Harare magistrate, Mr Dennis Mangosi charged with fraud and money laundering.
He was remanded in custody pending bail application.
The complainant in the case is NetOne Cellular (Pvt) Ltd OneMoney Wallet, being represented by Takaitei Chitekwe, the regional loss control officer.